Assuris

Examples of Travel Insurance


Example 1

Benefit

Original Policy
when Company Fails

Expenses Incurred

Explanation

Assuris Protection
when Company Fails

    Reimbursed Expenses
Up to $100,000
$50,000
    Since the expenses incurred are below $60,000, the promised benefit is fully protected.
$50,000

Example 2

Benefit

Original Policy
when Company Fails

Expenses Incurred

Explanation

Assuris Protection
when Company Fails

    Reimbursed Expenses
Up to $100,000
$90,000
    Since the expenses incurred are higher than $60,000 the 85% protection is applied to the promised benefits ($100,000 x 85% = $85,000).
$85,000

Example 3

Benefit

Original Policy
when Company Fails

Expenses Incurred

Explanation

Assuris Protection
when Company Fails

    Reimbursed Expenses
Up to $150,000
$125,000
    Since the expenses incurred are higher than $60,000 the 85% protection is applied to the promised benefits ($150,000 x 85% = $127,500). Since the Assuris protection exceeds the expenses incurred, the expenses are fully protected.
$125,000
If the liquidator, appointed to manage the company failure, achieves a greater return on the policy than the Assuris protection, your benefits will be adjusted to the greater of either:
  • The Assuris protection or;
  • The amount recovered by the liquidator.